China’s Appetite for Dairy Set to Benefit NZ Producers
China’s returning appetite for dairy set to benefit NZ producers – Visiting Chinese dairy expert
After a two-year hiatus from the global dairy market, China’s appetite for dairy commodity imports is starting to revive, and this will create opportunities for New Zealand, particularly at the higher-end of the market, according to a visiting Chinese dairy expert.
In New Zealand for a series of industry presentations, Rabobank Shanghai-based senior dairy analyst Sandy Chen said China’s appetite for dairy commodity imports is starting to pick-up at a time when global supply across the export engine is returning to growth.
“In terms of dairy consumption growth, we’ve seen this plummet from an annual growth rate of close to 19 per cent for the most part of last decade, to a growth rate of under two per cent since 2012,” he said.
“Looking out to the medium-term, we are not expecting to see a return to the type of growth we saw from 2000 through to 2008, however we do expect dairy consumption growth to stabilise at around two to 2.5 per cent out to 2022.”